Latest news with #oilrefinery
Yahoo
4 days ago
- Business
- Yahoo
Jim Cramer Notes 'Valero (VLO)'s Already Had Too Much of a Run'
We recently published a list of . In this article, we are going to take a look at where Valero Energy Corporation (NYSE:VLO) stands against other stocks that Jim Cramer discusses. When a caller asked for Cramer's opinion on Valero Energy Corporation (NYSE:VLO), he replied: 'You know I'd rather be in the Phillips, the PSX. See, that's kind of a battle going on there, you know, and we can see what happens. I think Valero's already had too much of a run.' Massive storage tanks filled with crude oil and diesel fuels at an oil refinery. Valero (NYSE:VLO) produces and markets petroleum-based and low-carbon transportation fuels, petrochemicals, renewable diesel, and ethanol. It distributes its products under various brand names. The company also supplies co-products like distillers grains and corn oil for animal feed. On May 23, BofA increased its price target on VLO from $121 to $143 and maintained a Neutral rating. The firm updated its estimates for refiners and mentioned that its 2025 and 2026 EBITDA forecasts remain below consensus. It noted that price targets for Chevron, ExxonMobil, and Occidental saw minimal changes. However, the firm raised targets for refiners since the firm's outlook no longer assumes a severe recession. Overall, VLO ranks 6th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of VLO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VLO and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Reuters
5 days ago
- Business
- Reuters
Petroecuador declares emergency at Ecuador's biggest refinery after fire damages
QUITO, May 29 (Reuters) - Ecuador's state oil producer, Petroecuador, on Thursday declared a 60-day emergency at the South American nation's largest oil refinery, its second emergency in just one month, after a fire this week caused damage to some fuel tanks. Petroecuador had at the end of April declared a separate 60-day emergency at the Esmeraldas refinery in northern Ecuador due to damages from a magnitude 6.3 earthquake that struck the area.
Zawya
27-05-2025
- Business
- Zawya
SOCAR, Gunvor, Bin Butti to bid for refiner Italiana Petroli, sources say
MILAN - State Oil Company of Azerbaijan (SOCAR), global commodity trader Gunvor and Abu Dhabi-based Bin Butti Group are expected to submit binding offers for Italian oil refiner Italiana Petroli (IP) next week, two sources close to the deal said on Tuesday. IP, also known as API Group, is being advised by UniCredit on the potential sale, the sources said. IP is owned by Italy's wealthy Brachetti Peretti family and has a total refining capacity of around 200,000 barrels per day (bpd). It also owns a network of 4,600 fuel stations. IP declined to comment. Gunvor, SOCAR and Bin Butti Group were not immediately available to comment. Italian daily la Repubblica said on Tuesday, citing unnamed sources, that SOCAR is seen as the front runner for the acquisition and that IP is valued at between 2.3 billion euros and 2.5 billion euros ($2.61 billion-$2.84 billion). SOCAR and Gunvor have been exploring possible bids for longer than Bin Butti, which joined the race for the Italian group only recently, the sources told Reuters. Reuters reported last month that binding bids for IP were due by the end of May and mentioned SOCAR, Gunvor and Glencore as potential bidders. ($1 = 0.8797 euros) (Reporting by Francesca Landini and Valentina Za, additional reporting by Nailia Bagirova and Federico Maccioni; writing by Gianluca Semeraro, editing by Susan Fenton)
Reuters
27-05-2025
- Business
- Reuters
SOCAR, Gunvor, Bin Butti to bid for refiner Italiana Petroli, sources say
MILAN, May 27 (Reuters) - State Oil Company of Azerbaijan (SOCAR), global commodity trader Gunvor and Abu Dhabi-based Bin Butti Group are expected to submit binding offers for Italian oil refiner Italiana Petroli (IP) next week, two sources close to the deal said on Tuesday. IP, also known as API Group, is being advised by UniCredit ( opens new tab on the potential sale, the sources said. IP is owned by Italy's wealthy Brachetti Peretti family and has a total refining capacity of around 200,000 barrels per day (bpd). It also owns a network of 4,600 fuel stations. IP declined to comment. Gunvor, SOCAR and Bin Butti Group were not immediately available to comment. Italian daily la Repubblica said on Tuesday, citing unnamed sources, that SOCAR is seen as the front runner for the acquisition and that IP is valued at between 2.3 billion euros and 2.5 billion euros ($2.61 billion-$2.84 billion). SOCAR and Gunvor have been exploring possible bids for longer than Bin Butti, which joined the race for the Italian group only recently, the sources told Reuters. Reuters reported last month that binding bids for IP were due by the end of May and mentioned SOCAR, Gunvor and Glencore (GLEN.L), opens new tab as potential bidders. ($1 = 0.8797 euros)
Yahoo
27-05-2025
- General
- Yahoo
Dark smoke rises from reported fire at Ecuador's largest oil refinery
STORY: ::'@joelmerov' via Instagram :: Eyewitness video shows smoke rising as a fire breaks out at Ecuador's largest oil refinery :: Esmeraldas, Ecuador :: May 26, 2025 :: State oil company Petroecuador says the fire is under control and all staff are safely evacuated The state oil company Petroecuador and the country's energy minister said the fire was under control, with the company adding that operations have halted as a precaution. All personnel at Petroecuador's Esmeraldas refinery were safely evacuated with no injuries reported, and investigations into the cause and infrastructure damage are under way, the company said. Reuters was able to independently verify the location by the road layout, trees, street poles and the bus terminal facade which matched file and satellite imagery. The date when the video was filmed was verified by the original file metadata.
